One of the day's top risers was African Potash (LON:AFPO), which is teaming up with South African investment firm Beryl Holdings in a deal that will expand and enhance its fertiliser operations.
Under the terms of the agreement, Beryl’s main fertiliser activities will be wrapped into a jointly-owned Mauritian company.
Another African operator, Lekoil (LON:LEK), saw its shares advance after reaching a deal to acquire Afren’s 22.86% stake in the OPL 310 asset (with 40% economic interest), which contains the Ogo discovery.
The company is to pay US$13mln for the additional stake, with US$12mln of it due in cash immediately.
It adds to the group’s existing 17.14% stake (and 30% economic interest) in OPL 310, and will increase its ownership to 40%, and it will have a 70% economic interest in the asset.
Sector peer Caza Oil & Gas (LON:CAZA) said its lender, Apollo Investment Management, has agreed to further leeway on the group’s US$45mln debt.
As part of the debt facility, the company’s finances were ‘tested’ quarterly and after the second quarter Caza was not in full compliance of the debt terms, though Apollo had agreed a temporary waiver of certain financial covenants.
That forbearance period has, after November 30, been extended until December 31 2015.
Gulfsands Petroleum (LON:GPX) told investors that the Moroccan authorities have rejected its request to extend the licence for the Rharb project.
An agreement between Gulfsands and Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) expired on November 9, and the company had requested a further two years to continue exploration and appraisal activity.
ONHYM, however, has not given its consent for the extension.
Another indication of tough times in the commodities markets came from commodity and energy trading software specialist Brady (LON:BRY), which is looking to cut costs as it said tough market conditions in the commodities, energy and scrap metal sectors will hit full-year results.
The group said it was taking longer than expected to convert potential business into firm contracts, meaning earnings would fall materially short of City hopes.
It has started a cost reduction programme to cut £1.7mln to improve profitability next year.
In other tech news, CloudTag (LON:CTAG) has appointed Dr Gerald Bereika as the company’s new non-executive director.
Bereika, a specialist in social and health care services, is described as being instrumental in the development and integration of ‘the user journey’ with the company's development team.
Kromek Group (LON:KMK), the radiation technology company, has teamed up with CANBERRA Industries, a US-based provider of nuclear measurement solutions.
CANBERRA is to be the exclusive distributor for four product families from Kromek's nuclear portfolio across the globe, save for a few territories where Kromek already has distribution agreements in place.
Additionally, Kromek has entered into a three-year collaborative research & development (R&D) programme with the US company, which is expected to be worth more than US$900,000 over the life of the contract.
Diagnostic testing group Akers Biosciences (LON:AKR) has taken another step towards launching production in China.
The group said a new factory to be run by its Chinese joint venture Savy Akers was now fully operational.
Collagen Solutions' (LON:COS) interims revealed it is making headway both operationally and financially.
Financially, Collagen Solutions made a big leap with revenues up more than ten-fold year on year at £1.46mln in the six months to September 30.
The underlying loss (LBITDA) of £79,376 reveals the group is approaching break-even. The figure has narrowed from over £522,000 previously.
Fitbug (LON:FITB) revealed that Paul Landau and James Ward, the management team that had been running the Fitbug Ltd operating subsidiary, are leaving to pursue new business opportunities, the company said.
Group chief executive Anna Gudmundson will fulfil Landau’s responsibilities (chief executive of Fitbug Ltd) and the company said the search for Ward’s replacement (chief financial officer of Fitbug Ltd) was currently well advanced.
Retail software supplier Attraqt Group (LON:ATQT) has bolstered its board with the appointment of one of its major shareholders.
Nick Habgood, managing partner of UK-based private equity firm Azini Capital Partners, has joined the board as a non-executive director.
Consumer and business finance firm Private & Commercial Finance (LON:PCF) has upgraded its forecasts for the year after a strong first half, boosting its shares.
In the six months to September, the firm saw pre-tax profits jump some 80% to £1.53mln from £850,000 the year before.
In the mining sector, Metals Exploration (LON:MTL) is hopeful its Runruno gold mine in the Philippines will finally be up and running in January.
The processing plant is built and commissioned, but the lack of an operational permit has held up its switch-on while remedial work following damage from Typhoon Lando also prompted a partial suspension order.
Condor Gold (LON:CNR) has formally submitted an application for an environmental permit for an open pit mine, a CIL processing plant and associated infrastructure at its La India Project, Nicaragua.
Latin America-focused Orosur Mining (LON:OMI TSX:OMI) has re-organised its management team in a move expected to save at least US$400,000 per year.
Pablo Marcet is to step down as exploration and development director, though he remains as a non-executive.
Daniel Moretti, chief financial officer, has also resigned and his duties will now be handled by Ignacio Salazar, who held the position for five years prior to becoming chief executive in 2013.
Natural resource investment company Polo Resources (LON:POL) has increased its stake in Ironstone Resources to 18.8%.
Ironstone conducted a rights issue to raise C$1mln, which Polo backed, buying C$101,000 worth of shares and a price protection mechanism available for certain early stage investors in Ironstone.
Bezant Resources (LON:BZT) has raised around £400,000 through a share subscription at a 9% premium to the market price.
The subscription shares were issued at 2.45p and will account for approximately 16.7% of the enlarged total in issue.
Sapphire miner Richland Resources (LON:RLD) has already met its production target for the current quarter as its Capricorn mine in Australia ramps up.
The miner had expected to produce 250,000 carats at a size above 4mm in the final three months of 2015, but has surpassed that already.
Finally, tidal power group Atlantis Resources (LON:ARL) has appointed Stephen Ward to its new executive management group.
Ward, who was previously Head of Project Management UK at AREVA Wind and other wind power operations, is to take on the position of director of power generation.